Professor Terry Hill Has Presented a Four-Loop Framework for Operations

question 60

Multiple Choice

Professor Terry Hill has presented a four-loop framework for operations strategy through an iterative and integrated process.The initial loop is

• A)Operations evaluates the implications of competitive priorities in terms of process choices and infrastructure
• B)Operations determines if process choice decisions and capabilities are consistent with infrastructure capabilities
• C)Operations input into corporate and marketing strategy
• D)Ties together corporate strategy and marketing strategy

---

Definitions:

Gross Profit

The amount of money a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.

FIFO Perpetual

An accounting method where the first items placed in inventory are the first ones sold, continuously tracking inventory levels.

LIFO Perpetual

A method of inventory valuation where the last items acquired are the first to be used or sold, continuously updated to reflect remaining inventory.

Average Cost Periodic

A costing method where the cost of goods sold and ending inventory are valued at the average cost of all goods available for sale during the period.